Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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@shareswotter
As i said the first call would be to AA - so from there who knows AA share the data, or CB moves on.
At the end of the day AA sharing data means they have first chance to buy back an asset that would of been fully researched, irrespective of conversations with other interested parties...
IMO ATB Shorn
Ella - am not sure of exact % cut off, dont think CB has declared his stance, but i think the entire length of whole 1 from where it struck right through to over 1000m was above a sensible modern day cut off level
Cyg - call me a foolish dreamer but ive opted for stance of very good news a while back and am eagerly waiting.
Ive been thinking about the chain of events that the team and CB have to try and “domino rally” plan just as soon as it all comes out, inc navigating the media, telling the story, having the answers to the millions of questions and tempering the external noise.
I think thats a big part of ongoings behind this silence - CB deciding what is the most seamless and eloquent flow of news to create the smoothest transition for the company - which is inevitably about to gear shift in size, opportunity and level of interest
Jwoz,
Your last para is important but also, why extend the duration of the electrical survey by 50% if they were not finding anything !
Hence, the reasons I was looking for the radio silence from CB. I don't see the silence as bad news - it could well be a very good sign.
Jwoz,
I just this minute redid my calcs and assuming hole 1 assay results reported any intercepts above 0.3% cu then it will have been at least 900m of close to 0.3%. (Assuming I've got it right the second time).
On more than one hole it refers to the most significant copper mineralisation between 500 and 800 metres from what i recall
The direction and angles of the holes were all testing different strikes as youd expect - and therefore a range of mineralisation makes sense with differing points at which the most significant occurs.. all the way up to the c1000m mark on most holes, and starting from as early as 75m. All in different directions .
Theres been lots of guesswork around the shape of whats been drilled and i think iceberg came closest with his blog from memory
There is a degree of measured assumption here ….. but its also stated in RNS wording that there were instances of significant copper well below 500m up to900
however with the angles its incredibly hard to know what straight line/vertical depth that is - if thats what you mean?
Definitely nothing to worry about though i dont think.
Ill close by saying this… why would a team of hardened industry professionals have raised more money to ship in rigs that can dig even deeper to 1.5k and add even more experts to their team, if there is any chance of minimal mineralisation below 500m??
Cygnus,
I think either of those are an option. My concern is the we don't know how much mineralisation exists deeper than 552m (from first assay results) presumably it is all below 0.3% or it would have been seperately reported in the RNS. This means we don't really know if drill 1 added significantly to the dimensions. There are the following 2 statements in the RNS which add some comfort.
'· The assay results confirm that the mineralisation at Racecourse forms a very substantial copper-gold mineral system and there is significant potential to expand the Mineral Resource, which is currently estimated as 71Mt @ 0.44% Cu & 0.064g/t Au, at a 0.3% cut-off and classified as Inferred in accordance with JORC (2012)'
'The assay results from the first hole at the Racecourse deposit are exciting in that they confirm mineralisation for almost a kilometre down-plunge. The overall grade of 0.33% CuEq is very pleasing and I am particularly encouraged by the grade uniformity over the entire intercept.'
I think there are two possibilities as to why the news is no longer flowing and I don't think the results are disappointing otherwise I don't think CB would have set himself up for a fall after all the glowing mark-1 eyeball discussion.
Option 1: CB is working closely with AA and they do not want other companies to know the results of the latter drill holes and surveys. This assumes a pretty chummy relationship.
Option 2: CB is currently not working closely with AA and he does not want AA to know the current situation - yet. This may be because if they knew the prospect was going to easily achieve 2 Mt they well make a low ball offer (say 1.5Mt) removing any risk to XTR but reducing the reward. CB may know it's a better prospect than that and wants to avoid this scenario.
Just my thoughts.
Cygnus
Shorn,
"Then of course if AA are interested then why not share the old drilling data detail, what's to lose..."
Now if you were AA and believed that Colin could be talking to other companies would you give away your drilling results to him? AA have something to lose.
He also said in an interview, he thought AA may have got it wrong drilling Footrot, and that we will drill there too, actually I gathered that other potential targets within concession would also be explored further.
Would also be good to see/hear who our new Geologists and logistics team are, there is a lot more to joining all these dots together than simply providing details of hole two Assays.
Some time in the garden looking possible today, so that is where I will go now.
GLA
@Lucky520
Very good point.
I have said previously that i can't imagine that CB is not in contact with other companies (obviously first call would be AA) - with all the drilling and growing of assets why wouldn't you....
Then of course if AA are interested then why not share the old drilling data detail, what's to lose...
I am of the opinion that a lot of data: assays & 3D models, etc will be released in one RNS - the impact on the SP will be similar to the effect of the results of H1, and far better than drip feeding the data.
IMO ATB Shorn
Was just reading some rns's again and spotted this from the geophysical RNS.
"Racecourse allows significant depth penetration to enable tracking of anomalies potentially beyond 1,000m depth. We now have the benefit of previous drilling to guide us in interpreting prospectivity. We intend to use every tool available to plan the Phase Two drilling programme and the team is excited to advance the positive indications from Phase One towards our target of 2Mt of contained"
I never noticed it before and maybe thinking to much into it but the part where they say 'we now have previous drilling to guide us'......
So I thought they would have already had all the previous drilling information other than what AA have done. So Is this a hint that Colin has been in contact with AA and got their drilling results???